Today it published yet another news article that discussed the Bank of Thailand’s sudden take on Bitcoins and other cryptocurrencies.
London, UK (PRWEB) March 20, 2014
ForexMinute, one of the leading forex news portals, is also known to publish the very latest Bitcoin news. Today it published yet another news article that discussed the Bank of Thailand’s sudden take on Bitcoins and other cryptocurrencies.
Reported by ForexMinute’s long-term Bitcoin expert Mr. Deepak Tiwari, the new news-article reveled the antipathy of BOT towards Bitcoin. As per the report, the national bank said that Bitcoin is not a currency and its use comes with inherent risks, while also mentioning that the Bitcoin’s status in Thailand has been extensively improved since last year, when it was on the brink of being banned.
Meanwhile, Mr. Tiwari’s representation of the facts also suggested the BOT’s perceptions towards Bitcoin, explaining how the organization thinks that Bitcoin is electronic data and is far from being called a “currency” in the first place. The bank also pointed out the lack of proper regulations over Bitcoin that has made it so volatile, a sentiment that was once shared by Deutsche Bundesbank board member Carl Ludwig Thiele.
“Although the latest warning on the behalf of the Bank of Thailand is a concern for the supporters of the digital currency, silver line in the entire episode is that the message can be interpreted that there is no ban on Bitcoin,” wrote Mr. Tiwari. “Earlier in July 2013, Thai-based Bitcoin exchange Bitcoin Co Ltd had to shut its operations due to lack of legality.”
The ForexMinute founder and a renowned finance expert Jonathan Millet too presented his view on the news, saying that a warning cannot be considered as an outright ban. It depends on the choices of people whether are they are willing to take investment risks in Bitcoin or not. Bank of Thailand has simply done its job.
ForexMinute, the world’s leading Forex news and views portal, also helps the Bitcoin brokers and traders for having a high-end user-friendly trading experience with an array of resources e.g. financial news by the minute, fundamental and technical analysis, etc.
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